China Making All the Right Moves at Summit with Africa's Leaders

"China beats critics of its contribution to increase African indebtedness by cleaning up a significant portion of its current loans and announces $15 billion of the promised additional $60 billion for the next 3 years to be in the form of grants and concessional loans," according to Carlos Lopes, the former head of the UN Economic Commission for Africa who is at the summit.

In addition, FOCAC is launching "an ambitious initiative to promote non resources-based China imports from Africa, including a $5 billion special fund to accelerate such efforts".

Beijing, China.


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